St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-10-29
THE STATE OF TRADE.
The Usual Weekly Review of Com
merCial Matters,


NEW YORK, Oct. 2S.-R. G. Dun &
Co. in their weekly review of trade say:
'sDuring the past week, and during the
month, the volume of business has
diminished somewhat, as is natural at
this season. But the October trade, in
some branches and sections, falls be-
hind that of the same month last year, a
fact partly explained by the unusual
volume of business in September. Dis
tributiOn of goods purchased does not
quite meet expectations, and collections
are still slower but fair in many quar-
tiers, though the situation in that re-
Spect is more favorable than it appeared
to be week or two ago. Demands for
accommodation from the West and
South are still frequent, and the drain
of money from this point has not ceased,
though it has leSSened in volume, partly
because many balances have been drawn
down to the minimum, and some appli-
cations for accommodation have been
refused. Exchanges still reflect fair
activity in trade, and railroad statistics
a Ovement of products large for the
season. A conservative indispOsition to
undertake new enterprises has appeared
since July, and has brought
timely check in railroad build
ing, real estate operations and
some branches of manufacturing. Con-
sequently liquidation of past operations
is now the feature of most interest; If
that progresses satisfactorily the out
look for an excellent trade in the future
is good. Thus far returns indicate fair
progress in settlements in most branches
of trade and at most Southern and West
ern points, but some exceptions are
noted. The collapse of many iron min
ing companies of the Gogebic range
throws hundreds out of employment,
and brings disaster to a multitude of
small investors in their stocks and to
many tradeSmen. AT several localities,
where real estate speculation had be-
come excessive year ago, failure to
make second payment ISIS producing re-
action, with severe losses to many. All
over the Southwest there are many hold
erS of real estate paper who are seeking
payments, not always with success.
From most points this weeks reports in
dictate some improvement in collections,
a fair activity in business, and dimin-
ishing. Stringency in money markets.
AT Chicago the mercantile demand for
accommodation is undated. though col
lections have improved and shipments
of money to the country have mOder-
ated. At Omaha money is easier, and
real estate payments have thus far been
satisfactory, but slow collections
and much pressure are noted
at Kansas City, Wichita, Cleve-
land and some Southern points. Dis
tlnct improvement appears at Louis
vile, Memphis and Atlanta. Large
failures cause some surprise at Milwau-
kee. The iron trade still hesitates, and
the market for other than the best
grades is very irregular. More inquiry
for rails is noted, but orders are not up
to expectations, and there are reports of
sales at S33. The coal supply is short.
The wool market is better i'm tone,
though sales are not yet large; some
Improvement in demand in dress goods
is noticed, but the manufacture of
heavy goods is still embarrassed by in
adequate demand. Prices of cotton
goods are firm, and the movement salts
factory. Boot and shoe buyers are nu
merous and prices firm. BreadStuffs
have advanced little, and pork pro-
ducts yielded; cotton is a shade stronger.
but oil cents lower. In the stock mar
ket gradual recovery has lifted prices
about S1.5O per share, and the tone is
improved by some revival of foreign
purchases. The business failures dur
ing the last seven days number for the
United States 1913, and for Canada %, or
a total OF PIG, as compared with POI last
week and 215 for the corresponding
week last year.